| In Tunis, the capital of Tunisia, Bonvests has started the construction of 141 villas with a 18-hole golf course on a freehold land occupying 127.8 hectares. This is the first overseas property development project for Bonvests Group and is undertaken by a 95.4% subsidiary, Singapore Tunisian Investment Company.
The villas are substantially sold. We expect the construction to be completed before the end of 2007. The 18-hole golf course will be part of a proposed golf club which operation should start shortly after the completion of the construction. |
